Europe

Enforcement

UBS Settles Credit Suisse Liability in Mozambique Bribery Case

By Editors | 03/10/2023

The settlement terms have not been made public, but reports say UBS will forgive part of a loan Credit Suisse made to Mozambique in 2013.

Capital / Liquidity

BOE Plans to Create Permanent Lending Facility for Non-bank FIs

By Editors | 02/10/2023

BOE executive director Andrew Hauser said there was an urgent need to fill gaps in the central bank’s liquidity toolkit.

Fintech / Regtech

ECB Outlines How It Uses AI Tech for Central Banking

By Editors | 01/10/2023

The ECB is using AI to automate data collection and analyse text documents, and exploring the use of large language models for multiple use cases.

Sanctions

UK Imposes New Sanctions Over “Sham Elections” in Ukraine

By Mark Johnston | 01/10/2023

The sanctions are a response to Russia’s attempts one year ago to use “falsified and illegitimate sham referendums” to annex sovereign Ukrainian land.

Sanctions

UK OFSI Updates Russia Sanctions Guidance

By Editors | 29/09/2023

The updated guidance addresses uncertainties regarding funds received from sanctioned banks when neither the sender nor recipient are designated persons.

AML / KYC

ESMA Withdraws JSE Clear’s Recognition Decision

By Editors | 29/09/2023

JSE Clear will no longer be permitted to provide clearing services to clearing members or trading venues in the EU.

Crypto / Digital Assets

BIS Innovation Hub Concludes Project Mariana Trials

By Editors | 29/09/2023

The project explored the use of DeFi automated market makers for the cross-border exchange of CBDC in different currencies.

ESG / Sustainability

ESG Dominates FIs’ Regulatory Landscape – KPMG UK

By ESG Investor | 28/09/2023

A noteworthy finding in the report is the growing divergence in regulatory approaches between the UK and EU.

AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

By Editors | 27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.